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[ C ] a authorized arrangement by which someone or Group controls residence and/or funds for an additional individual or organization:
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Technology-skipping trust: This trust allows somebody to transfer property tax-free of charge to beneficiaries at the least two generations their junior, usually their grandchildren.
you, we're ingesting your foodstuff. From NPR These illustrations are from corpora and from resources on the web. Any views inside the examples tend not to signify the belief from the Cambridge Dictionary editors or of Cambridge University Push or its licensors.
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What's a Living Trust? A living trust is a lawful arrangement recognized all through somebody's lifetime that contains property to be dispersed just after Demise Which bypasses probate.
The cash that her father left her is becoming held/kept in trust (= becoming controlled) for her right until she's thirty.
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Averting probate. Property in a very revocable trust can bypass probate, some time-consuming court docket process of settling an estate. Belongings that pass through probate trust bet become Element of the public history, so bypassing probate might be beneficial if you like to maintain the main points trust bet of your trust personal.